Supervision and Surveillance Principal

How will your role impact First Command?

The Supervision and Surveillance principal will manage risk for First Command through pre and post-sale suitability and best interest reviews. The individual will also provide First Command advisors support through education and training regarding suitability and best interest requirements in accordance with the Compliance Manual, Written Supervisory Procedures, FINRA, and various state and federal agencies. The individual will review day to day business submitted by advisors that include pre-sale Financial Planning Hub reviews, brokerage transactions, and insurance and annuity recommendations, investment switches and managed account recommendations while maintaining current service level agreements. The principal will determine if client recommendations and trading activity are in the client's best interest through documentation in SalesForce, transaction details, appropriate paperwork, and from clarifying or direct conversations with advisors in the field. The Principal will also monitor and review transactions through FIS Protegent and NetX360. The Supervision and Surveillance principal has full autonomy to approve and accept business on behalf of First Command within the firm’s guidelines mandated by First Command, FINRA, and various state and federal agencies.

What will you be doing?

• Complete a prompt and accurate review of a client’s profile to include their risk tolerance, investment objectives, tax status and other facts and circumstances to determine best interest and suitability of Hub recommendations that could include insurance, annuities, managed products, mutual funds, fixed income, and other various securities products
• Strong working knowledge of industry standard and regulatory policies and procedures for complex products and transactions.
• In depth knowledge of the Compliance Manual, Written Supervisory Procedures, Sales Approval Matrix and FINRA rules and regulations
• Review and accept as appropriate new accounts to include brokerage and managed accounts
• Review and resolve Protegent alerts, which may require coordination with advisors, DAs (OSJ) and their staff
• Principal supervisory review of electronic communications to ensure compliance with all applicable regulations, as well as company policies and procedures.
• Lead a monthly DA (OSJ) call to address status of district trends to include HUB items, Protegent alerts, trade alerts, and new accounts
• Daily review of trade blotter
• Daily review of annuity applications, which may include replacements and 1035 exchanges
• Monitor work queues at the beginning and intra-day to ensure service levels are being met
• Provide field force support through training and education as needed or requested concerning regulatory, firm policies and procedures, and licensing issues.
• Collaboration with the Financial Planning Consultants on financial plan reviews that require additional review, correction, or the identification of a potential training need
• Timely follow up on items pending approval (NIGO) to include financial plans, investment switches, new accounts or other in-force or new business
• Monitor, review and resolve items for attention in NETX360 to include trades, new accounts and transfers
• Daily monitoring of the Supervision inbox and respond as needed
• Highly focused on the quality of pre and post-sale reviews with an emphasis on following documented procedures
• Escalate items to the Supervision and Surveillance Leadership as needed
• Educate advisors on recommendations that may not be in the client's best interest, and assist in finding alternative solutions
• Identify and recommend ideas for process and procedure improvements
• Responsible for adhering to supervision guidelines mandated by First Command Financial, FINRA, and various state and federal agencies

What skills/qualifications do you need?

• Bachelor's Degree required in a related field (Industry experience may be considered)
• Must possess FINRA Series 7, 24, 53 and 66 licenses or be able to obtain within 90 days post-hire.
• Must have appropriate Life and Health Agent license or be able to obtain within 90 days post-hire.
• Seven years experience in the Financial Services Industry (Preferably as a Registered Principal)
• Extensive knowledge of compliance and regulatory requirements
• Intellectually curious and model a culture of continuous learning, mentoring and coaching while encouraging an agile way of working

Performance Measures

• Resolves each and every piece of business processed to an acceptable outcome while maintaining exceptional quality
• Stays abreast of industry and regulatory trends relating to the approval of securities transactions
• Obtains and remains current on all required FINRA and insurance licenses.
• Successfully completes all required Continuing Education requirements within established time frames
• Maintains a positive working relationship with Advisors, District Advisors, their staff and internal business partners
• Provides input for department publications and process improvement
• Meet volume, service level agreements and quality control standards
• Contributes to a successful compliance exam

Knowledge, Skills & Abilities

• A successful Supervision and Surveillance principal will be a thought leader in the Supervision Team and will require an outstanding ability to build and maintain productive working relationships with personnel across the organization. Encourages an atmosphere of service, trust and teamwork between the Supervision and Surveillance team, field force and with internal business partners using effective communication skills.
• Ability to be a self-starter and work independently.
• Strong decision-making ability and attention to detail
• Outstanding time management and organizational skills. Ability to operate in a fast-paced environment and must have the ability to make decisions based on sound business judgment with information at hand while quickly adapting to new circumstances presented.
• Conflict resolution skills
• Must have detailed knowledge of the Written Supervisory Procedures (WSP), the Compliance Manual (CM), and the Sales Approval Matrix.
• Must exhibit the ability to execute at a high level with excellent quality and contribute to a high-performance team
• Must exhibit strong analytical written and verbal communication skills for resolving problems.
• Brokerage experience required
• Must encourage an atmosphere of service, trust, openness, communication, and an attitude of working together to achieve mutual objectives.

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